Ardor was introduced to the world on January 1, 2018, which was distinctive of its marketing campaigns that promised user safety, speed and scalability. One of the unique features about Ardor is that it aims in making the whole platform a world of its own by going further in applying the laws of decentralization. The algorithm seeks in creating a decentralized cryptocurrency of its own and its respective application. Ardor is the first network to release the first ever child chain known as IGNIS.
The news of the development of Ardor was first introduced in 2016. In 2018, Ardor was announced in the market with Jelurida behind the development. Ever since it was released, it received mass interest in the cryptocurrency community as well as investors mainly because of its implementation of parent-child chains which is a milestone as well. Its roadmap is increasing at a rapid rate, thanks to the introduction of child chain – IGNIS. This particular action has led many to believe that the premise for Ardor sounds promising and has led to a steady climb in the ladder of the digital currency community.
Ardor can be used by installing an Ardor wallet which can be downloaded on all systems through reliable websites. Once a user downloads the wallet, it syncs on to the system. Once it completes the syncing process, the Ardor wallet is ready to use for any transaction, anytime and anywhere. There are significant advantages to using an Ardor wallet, and it begins from storing all your funds in cold storage. This means that the funds in the wallet are safe from external malicious attacks. Also, if the device gets stolen, the account can be frozen from any other device where you need your login password. There is additional security involved with using the wallet as well.
Although we are still learning about what the premise of Ardor holds for crypto, there are some distinct features and benefits.
The whole idea of Ardor is to provide a decentralized system and this means that there is no central authority. It is known that Ardor is owned by the users and it is not a part of any organization. It is entirely decentralized and that there is no third party involved in the transactions between the users and the system. This also means that the whole blockchain ecosystem provides a safe environment for users from all kind of malicious cyber attacks which often leads to the hacking of the mined coins and automatically leads to loss.
Parent-Child Chain Structure
Ardor is unique in its own way because of its recent release of the child chain IGNIS. A child chain is primarily designed to help the bigger blockchains to help with speed, security and scalability issues in the blockchain infrastructure. A child chain structure helps in maintaining a regular schedule of executing transaction blocks while remaining efficient as well. This also provides reliability while sheltered by the security of the parent chain, i.e., Ardor.
Proof of Stake
Ardor is a Proof of Stake (PoS) based cryptocurrency. PoS algorithm comes under the blockchain technology which aims to receive reliability because of the faulty systems and loopholes in the blockchain system. The main idea behind the implementation of PoS is to prevent attacks before they happen since recovering from an attack and covering damages would be more expensive and time-consuming.
When we talk about traditional transaction service like a credit card, debit card, etc. they usually tend to charge around two to four percent per transaction. Well, with Ardor the transaction charge is zero. As such, for people who regularly perform high volumes of transactions using Ardor will be advantageous and hence an individual or business can save a substantial amount of money.
Blockchain Bloat Prevention
The downside of using a parent-child chain is the inevitability of blockchain bloats. This occurs because the child blocks can cause the whole blockchain to seem heavy and slow. But the upside to this is these bloats can be prevented by a method called full node pruning as the child chains can be removed once the transactions have been completed. So, when these smaller chains are removed, the whole blockchain infrastructure is lightweight and faster.
Firstly a user has to convert funds into Bitcoin, Ethereum or Litecoin. Once the conversion has been completed, one can head over to Coinbase.com and create an account. A user can create an account with a valid email and a password. Once the user sets up an account and logs into the account, one can get right into the business by going to the settings menu and by clicking the accounts tab. Once the user accesses that tab, a user can transact cash from a debit card or a credit card to convert them into Bitcoin, Litecoin or Ethereum. After that, a user can head to Cryptopia, Binance, coinFalcon, Bleutrade, YObit or any reliable websites that offer Ardor in exchange for bitcoins, Litecoin or Ethereum. After verifying one's account, one can set up a 2FA account for more security. After setting up an account, the exchange will be complete when a user receives Ardor after the conversion.
No Recent News
|Paxos Standard Token (PAX)||$1.012131||-0.40%|